Pistons with center compensation valves through which a pressurizing chamber of a master cylinder is connected to a reservoir have been disclosed in U.S. Pat. Nos. 5,214,917 and 5,279,125. These master cylinders function in an adequate manner to provide a reduction in the compensation travel required before pressurization of the fluid in the operational chambers occurs in response to an input force. The pistons In such master cylinders are made from a single casting that requires several milling operations to develop a radial slot that is connected to an axial bore where the compensation valve is located. The time and effort associated with the milling operations adds considerable cost to the manufacture of such pistons.